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Bombers make money again.

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1 Bombers make money again. on Tue Apr 21, 2009 1:08 pm

Deank

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http://www.winnipegfreepress.com/breakingnews/Blue-in-the-black--43345732.html

say..... if the bombers are MAKING money, why is it that Asper needs to build a retail mall in the stadiums old location with some of the money made from the retail going to support the team?

Suspect

2 Re: Bombers make money again. on Tue Apr 21, 2009 3:10 pm

Bartron

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In the article it says the bomber now have a 5 million dollar surplus. Who gets that money when asper takes over?

3 Re: Bombers make money again. on Tue Apr 21, 2009 3:18 pm

Guest

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Asper gets it.

4 Re: Bombers make money again. on Tue Apr 21, 2009 3:21 pm

Deank

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good thing he is putting up 10 million of his own money.


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5 Re: Bombers make money again. on Tue Apr 21, 2009 3:44 pm

grumpy old man

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Heh heh

Typical.

If they lost money (like they did just about every other year) would you care? Of course not. The Winnipeg Stadium needs millions and millions in renovations. How much would the Bombers make after the renos?


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Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

6 Re: Bombers make money again. on Tue Apr 21, 2009 3:48 pm

Deank

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well I am guessing about as much as they make when the new stadium is built... not sure how that means anything GOM.


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Why do we call them fingers if no one has ever seen them fing?

7 Re: Bombers make money again. on Tue Apr 21, 2009 3:52 pm

grumpy old man

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My point is were Asper not in the picture and the Bombers effected the required renovations just to stay in that God forsaken stadium, how profitable would they be?

Don't lose sight of the fact the Bombers have rarely been profitable. When Bauer took over the Bombers were on the verge of bankruptcy.


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

8 Re: Bombers make money again. on Wed Apr 22, 2009 12:23 pm

Bartron

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Bartron wrote:In the article it says the bomber now have a 5 million dollar surplus. Who gets that money when asper takes over?

To answer my own question, I lifted this from a football forum.

"
Somebody asked this question at the WBB fan forum today and the
answer given by Lyle Bauer was that all of the 5million will get put
into a reservation/backup fund that will be used in the case that the
Asper ownership project fails and the team is forced to go back to
public ownership. I may not be 100% on this part but he also said that
Asper is supposed to up that 5 million amount in the reservation fund
up to 10 million through a period of time throughout his ownership.
This is sort of a fail safe plan in the case that things don't work out
so well."

Seems fair to me.

9 Re: Bombers make money again. on Wed Apr 22, 2009 12:27 pm

Guest

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What? Each side, the buyer and the seller, are putting 5MIL into some kind of 'fund' in case the team fails?

That is very, very strange indeed. It cries out for an explanation other than the obvious, which it isn't by the way. (Why should the seller put up money for this? Makes no sense at all.)

10 Re: Bombers make money again. on Wed Apr 22, 2009 12:30 pm

FlyingRat

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It's not so much the seller putting up the cash, as the entity being sold!


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11 Re: Bombers make money again. on Wed Apr 22, 2009 12:33 pm

Guest

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bafflegarb nonsense...same thing but different words...the seller is the seller and the buyer is the buyer...nobody else involved...in this case "the public" through some "board" is the seller. The product being sold is the Bombers.

12 Re: Bombers make money again. on Wed Apr 22, 2009 12:36 pm

grumpy old man

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There is apparently a surplus. That surplus is not transferred to Asper. It is held in trust in the event the team fails and ownership reverts back to public ownership. Asper is matching that amount thereby assuring a nice fat chunk 'o change is available when the new public ownership board assumes control.

Seems very fair to me. Not sure why you don't get it JTF...


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

13 Re: Bombers make money again. on Wed Apr 22, 2009 12:37 pm

FlyingRat

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Does the $5M belong to the Winnipeg Blue Bombers Football club, or the Board?


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Rule #76: No excuses. Play like a champion!

14 Re: Bombers make money again. on Wed Apr 22, 2009 12:37 pm

FlyingRat

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There is apparently a surplus. That surplus is not transferred to Asper. It is held in trust in the event the team fails and ownership reverts back to public ownership. Asper is matching that amount thereby assuring a nice fat chunk 'o change is available IFthe new public ownership board assumes control.


_________________
Rule #76: No excuses. Play like a champion!

15 Re: Bombers make money again. on Wed Apr 22, 2009 12:38 pm

grumpy old man

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Oh yeah. Right. Think positive. Think positive. Think positive. Think positive. Think positive.


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

16 Re: Bombers make money again. on Wed Apr 22, 2009 12:51 pm

Guest

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Guest
grumpy old man wrote:There is apparently a surplus. That surplus is not transferred to Asper. It is held in trust in the event the team fails and ownership reverts back to public ownership. Asper is matching that amount thereby assuring a nice fat chunk 'o change is available when the new public ownership board assumes control.

Seems very fair to me. Not sure why you don't get it JTF...
Asper buys the club. What new public ownership board are you talking about? Asper gets the money according to your analysis, or, the money goes into some "fund"...forever to be used for parties or whatever... it doesn't say does it?

GOM, I don't get it because it doesn't make sense.

17 Re: Bombers make money again. on Wed Apr 22, 2009 12:52 pm

Deank

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the deal the public is aware of has Asper putting up 10 million of his own money.. not contributing another 5 million into an existing fund.


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Why do we call them fingers if no one has ever seen them fing?

18 Re: Bombers make money again. on Wed Apr 22, 2009 12:54 pm

Guest

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Guest
If he fails he should lose it all. What else is fair? Plus..the downpayment should be uped to $15 MIL.

19 Re: Bombers make money again. on Wed Apr 22, 2009 1:00 pm

Bartron

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The 5 million fund is not for asper is he fails. It's for the team should he fail.

20 Re: Bombers make money again. on Wed Apr 22, 2009 1:01 pm

grumpy old man

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Someone is not thinking this through very well. Or is being disingenuous for giggles. I've no patience for that game today.


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

21 Re: Bombers make money again. on Wed Apr 22, 2009 1:04 pm

Deank

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well all those issues aside.. I ask again.. if the bombers are finally turned around and are making money.. and presumably will continue to do so in the current stadium or the new one since they now finally get the profits from the concessions and such.. why is NEW retail needed to help fund the team?


_________________
Why do we call them fingers if no one has ever seen them fing?

22 Re: Bombers make money again. on Wed Apr 22, 2009 1:06 pm

FlyingRat

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more money is always better


_________________
Rule #76: No excuses. Play like a champion!

23 Re: Bombers make money again. on Wed Apr 22, 2009 1:08 pm

Deank

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But what could they do with the more money is what I am wondering. Apparently they cant even train in the off season so thats not it.


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Why do we call them fingers if no one has ever seen them fing?

24 Re: Bombers make money again. on Wed Apr 22, 2009 1:08 pm

grumpy old man

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What if the team is NOT successful?

The agreement is what it is... The team has perennially lost money and I presume Asper felt the only way he could fund the Bombers is to subsidize them from related retail activities.


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

25 Re: Bombers make money again. on Wed Apr 22, 2009 1:09 pm

grumpy old man

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Deank wrote:Apparently they cant even train in the off season so thats not it.
Huh?


_________________
Yes, I really am that Grumpy...

It's their, they're and there; in Canada it's colour, cheque, rumour and zed...

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